Specialized Medical Co. (SMC), a prominent healthcare provider in Saudi Arabia, captured significant attention during its initial public offering (IPO) following the reinstatement of recently paid dividends. The company drew roughly 121 billion SAR (32 billion USD) in orders, reflecting enduring institutional trust in its long-term prospects. This robust engagement came after SMC reassured the market by reversing its dividend allocation, reinforcing investor perception of capital discipline and sustainable growth.

At midday on Wednesday, the primary US stock benchmarks signaled stability despite divergent sector performance and underwhelming macroeconomic readings. The S&P 500 $^SPX hovered near the flatline, with five of its 11 sectors posting gains. The tech-heavy Nasdaq 100 $^NDX inched up by 0.1%, brushing aside headwinds from the softening labor market and subdued service sector output. The Dow Jones Industrial Average $^DJI was unchanged, reflecting restrained investor sentiment.

After over half a decade under a strict asset limitation, Wells Fargo & Co. $WFC has secured a regulatory green light that redefines its trajectory. The Federal Reserve’s decision to remove the seven-year cap on assets, imposed following a series of scandals, allows the lender with $1.95 trillion in assets to pursue growth initiatives previously out of reach. This milestone ushers WFC back into direct competition with leading financial institutions such as JPMorgan Chase & Co. $JPM and Bank of America Corp. $BAC, especially in the lucrative Wall Street domain.